Business
Stakeholders Urge FG To Increase Workers’ Salaries
Some financial experts and other Nigerians last Sunday urged the Federal Government to review the salaries of workers upwards.
They told newsmen in Lagos that a substantial increase in workers’ wages would complement the government’s efforts in tackling corruption and other social vices.
Managing Director of Boaz Management and Financial Strategies Ltd., Mr Oluwole Ibikunle, said that the high level of inflation had eroded the value of workers’ salaries which had remained stagnant.
Ibikunle said that periodic upward review of workers’ wages would reinvigorate economic activities and boost the liquidity system as well as encourage investments among workers.
“Low wages make workers less productive, create discord in families and compel majority of the workers to engage in shady deals to make ends meet,’’ he stated.
Managing Director of Remmy Associates Ltd., Mr Remi Alarape, attributed the increase in corruption and other social ills among the working class to the prevailing ‘dismal wages’.
Alarape said that the inability of the Nigerian working class to financially support extended family members to create small businesses had contributed to unemployment and high level poverty nationwide.
“A well-paid worker will not only support extended family members in operating small businesses but would find it difficult to engage in corruption or any social vice,’’ he said.
A Senior Lecturer in the Department of Psychology, University of Ibadan, Mr Ojo Makinde, also told newsmen that the poor wage profile had robbed the country of committed workers interested in professional career growth.
“Job seekers are no longer concerned about the prospect of the jobs they get.
“They are only interested in the salary they will earn. This is the reason why many people want to work in multinational companies and oil firms that pay huge salaries,’’ Makinde said.
Deputy Manager of Integrated Capital Services Ltd., Mrs Dupe Bakare, said that workers in the civil service earned less than their counterparts in the private sector.
“A World Bank research conducted sometime ago shows that over 120 million Nigerians live on less than two dollars per day.
“The situation has not improved. Even with the N18,000 minimum wage, it is very hard for people to survive on that kind of salary in a country where most goods are imported.
“Our salary is not good enough; we are grossly under-paid. We live on loans and without loans we can’t embark on meaningful projects like having houses and cars of our own.
“We would have finished spending the salary before it is even paid at the end of the month and we would have incurred lots of debts.
“We buy necessities like food and clothing on credit; it is like a cycle. At the end of the year, we always have nothing to show for our labour,” she said.
A medical practitioner, Mr Peter Johnson, appealed to government to increase workers’ salaries through improved wages.
“Many Nigerians are struggling to make ends meet; they can’t live the kind of lives they desire because of poor wages.
“How can people buy goods when they do not have money? It is good to encourage the growth of foreign and local businesses in the country. We should, however, empower people who will buy the products,’’ Johnson said.
The Managing Director of Ethical Business and Management Associates (EBAM), Mr Ladi Afolabi, said that poor wages constituted one of the greatest challenges to the Nigerian economy.
“In Nigeria, the computation of salary does not take into consideration the changes that affect the average worker as a result of the economic challenges facing the nation.
“As a result, at the end of the month, take home pay does not take people home again,” Afolabi said.
The managing director suggested that there should be a periodic review of national wages, based on contemporary indices.
Business
TTP Trains Customs Agents, Freight Forwarders On Eto App
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Business
NECA Holds MSME Fair To Drive Growth
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
Business
Over 2m Passengers Board Blue Rail Train – Commissioner
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos
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